The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-07-02
DUN s. CO.'S BUSINESS REVIEW.
Satisfactory Transactions for the Season-De
cline of the Real-Estate Excitement.

Satisfactory Transactions for the Season-De-
cline of the Reai-Estate Excitement.
NEW YORK, July L--R G. Dun e. Co., in
their weekly review of trade. say: 1.-The week
has been one of satisfactory business for the
season, but of unusual disturbance in specua-
ton. Liquidation has reached the stock market
A week ago, even while this review was being
written, sharp attacks began. The recovery
especially rapid, but hesitation in prices this
week Notwithstanding very favorable reports of
earnings, indicates that the process of liquida-
ton may not. in all directions have been com
pleted. At their lowest, stocks were down to
the level of January last. and their highest. in
Nav had accurately corresponded with their
highest average before the break in December
A corner in June wheat, at New York, has sue
ceeded as complete ly as the Chicago corner
failed, and the prices made have been SO palpa-
bly, artificial that June delivery sold, the last
day of the month. 22t above the
grade for July. NORMALLY cash wheat fell Fl
cents Friday, though the actual price for
other uses than the settlement of speculative
contracts was not above 500 cents on Thursday
and s5t on Friday The Chicago
shipments of 10000 900 bushels, crowdine lake
lines their full capacity. The June exports
have been large, but the stock carried over to
the new-crop year will not fall much below
so 00e 900 bushels in excess of the minimum,
and the crop reports are generally favorable.
though prolonged drought in parts OF
the Northwest causes much apprehension and
may lesson the yield
From Omaha and some of the other points
come reports that the real estate excitement has
apated though prices maintained and large
sums being expended in building. 1t was
estimated some weeks ago, from returns at New
York, where the proportion of new buildings in
FIVE months has been 4 Al per cent. to the
assessed valuation OF real estate, that the sum
thus invested throughout the country must be
very large. Official returns for FIVE months
from thirty five cities. of all sizes and in various
n a "a
new buildings IN that time was IL per cent of
the assessed valuation of all real estate
there in 1880, and the transfers of property
Is cent. at all points, against Ia per cert. at
New York. These figures would point to
expenditure in building of 81, 800, 600 900 if the
the same activity should last through the year
and to transfers of 81. 300, 900 900. It need not
be added that reaction and diminished activity
in this direction are to be expected.
Available has been turned into fixed capital
largely in railroad building. though returns
disappoint those who expected larger mileage
completed this year than in 1882. So far. the
mileage is 500 above that of last year to date.
but about 300 miles below the completed work
to date in 1880, 1881 1885, and 2, 500 below the
cord of 1882 May and June returns exceed
last years but little But the new securities
listed at the Stock Exchange this year already
exceed 1892 000 900 stock and $133 000 COO bonds,
which, in part accounts for the hesitation in
prices.
General reports are almost without exception
satisfactory. trade being good for the time of
year, collections fair or better, and money s IN
reasonable supply at all interior points The dis
asters at Chicago and Cincinnati seem to have had
little effect elsewhere A most encouraging
feature is the settlement to wages in the iron
manufacture on a 10 per cent advance, and the
closing of the builders strike in Chicago, the
shoemakers' strike in Massachusetts, and the
ore handlers strike in Cleveland The coke
strike still keeps some furnaces idle and stocks
of iron west of the mountains are thought to
have fallen from 194, 078 tons. May /, to 100000
tons. An advance in August is hoped for, and
old rails have risen the past week. The coal out
put for the half year will exceed by ], 800 tons
the largest previous output, and an advance in
prices is again predicted In most other branches
of trade the condition is satisfactory for
the season.
Monetary anxieties continue. however. The
in any previous year. and the treasury has taken
in 81, 500, 900 gold, while putting out $l.400. 900
currency. The heaviest withdrawal of bank
bonds ever reported on a single day naturally at
tends the maturing of the last call for 3-per-
cents, and Treasury officials are disappointed be-
cause deposits for circulation reach only
81, 900, 900. The one open supply of money is the
London market, but recent events have caused
some sales of stock on foreign account. and mer-
chandise exports from New York fall per cent.
below. while imports rise 10 per cent. above
those of last year for June Disbursements for
in terest and dividends this month however,
estimated at SOC. 0O0, 900.
The business failures during the last seven
Canada, 20; total. 49, compared with 1877 last
week, and for the corresponding week last year,
179.
TRADE IN GENERAL.